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What would be account balance at the end of second year

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Reference no: EM132729206

Future Value in Case of a Withdrawal

1) ?4,400

2) ?6,600

3) ?6,400

4) ?4,600

Problem 1: Rahul deposits ?10,000 in a bank, which offers him an interest of 10% compounded annually. He decides to withdraw ?5,000 after a year. What would be his account balance at the end of the second year?

Reference no: EM132729206

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